The next time you hear a politician say that reducing regulations and allowing the sale of health insurance across state lines would go a long way toward controlling health care costs, think of the real, much higher cost of such a solution.

There has been talk about appointing a new "Systemic Risk Regulator." This "Super Czar" would oversee all of the financial services industry. We had a "Super Czar" last year. His name was Henry Paulson.